 If I was to refinance the homes into my name- would I be on the title of the home? If not what do I need to do |
| My husband and I just got married - 8 months ago....we lived together 6 years before getting married. We purchased a few homes in his name...the existing mortgages are in his name. His credit is in ... |
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 My apartment has bugs or something? |
| I keep getting bitten. The building is dirty and there's no lease for the apartment. Should I try to move?... |
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 Real Estate agent fees? |
| I am thinking of working with an agent to purchase a home taht contacted me via phone solicitation. Dumb? In the first few sentences of explaining things he mentioned a $1000 'up front' fee ... |
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 Just entering real estate and what should i expect? |
Transition is scary however I live in a high end area.
I've heard stories anywhere from "you will not get paid for a year" to "great move".Is it better to start part ... |
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 Where can we live while our house is being built? |
we are stuck....no family around where we live. we do not know anyone as we are coming from 5 hours away,
We have 2 pitbulls so no apartments or rental houses will take us and even if they would-... |
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 If an apartment is shared between two tenants, and one tenant leaves. Is that considered breaking the lease? |
| My gf just bailed on me. And I just wanted to know before I tell the leasing office to take her name off the lease.... |
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 I bought a bad house..many MANY problems...can i get money back from the original seller? |
| I just bought a house about 6 months ago...when i bought the house the original owner said that everything was in working order and the problems that the inspector found were fixed (mold in the wall ... |
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 Breaking into an "abandoned" house? |
| There is this house that I am completely in love with. It's Victorian style house that has been abandoned. On the Outside it looks like it needs a lot of work but my husband and I are ... |
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 Renting an apartment question? |
| I live in Indiana and yesterday I went to go sign and lease a new apartment. The Apartment person said that I had to make a certain amount of money per month to live there. That if I made under 2800... |
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 Would you pay 1.8 years of mortgage payments for 40 hours...? |
| ....of a Realtors time? Do the math folks. Your mortgage is 30 years, and real estate agents will charge ~6% to sell your house. So you are giving them 30*(.06)=1.8 years worth of your sweat and ... |
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 Is right now a good time to buy? |
| Either through conventional mortgage or cash. My family is telling me it's the wrong time to buy.. but I can't get this through to them. I'm paying in c-a-s-h. I'm buying a house ... |
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 Is it alright to bring my own digital camera and take pictures of a home when viewing for possible purchase? |
| I am shopping for a home and although some web sites show a few pictures, some don't and most don't show enough. Would it be alright to bring my own camera and take my own pictures so I ... |
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| When do i pay my last months rent? |
| The place i am in at the moment i pay the rent on the 18th of every month. On 18th June i am giving 1 months notice as i am moving and at the new place i am going to continue to pay the rent on the 18... |
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 Can I get a home loan.? |
| I am in Australia, I have one default for a Telephone bill of $192 which is now paid. I have owned a house before when I was 19, sold the house and paid out the loan 2 years ago. I have no debt or ... |
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pearlywhites | I need to know everything about buying a house? |
I have no idea so please spare your time to tell me.much appreciated |
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mary h
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i agree-big subject! as a buyer -hookup with a real estate agent- its free, most agents will work with buyers without any cost to you - the seller pays, but it pays to have someone who knows the buisness on your side. and contact a few mortgage companies/banks, but before you go putting in a application with any of them just explain your situation and see what their input is, take note of their fees and requirements, and pick one based on who can get you the best deal and is the most helping and informative, they are wanting to talk to people like you because thats how they get their buisness. you might want to get a copy of your credit report yourself if you have any doubts about how good or bad it is - and present your credit scores to the mortgage companies since that is what will determine your rate and the amount of down payment you need, its best to shop around especially since there is talk of the rates dropping soon. and you dont want them to pull a credit report cause if they cant offer you a decent program , but they pull a credit report- it will lower your score for the next time. also contact a attorney previous to any offers- your not required to secure a attorney until after the agreement to purchase but , its best to start developing a relationship with one as soon as possible to aid you in advice throughout the contract signing ,they will do alot of research on the property and look over the contracts and point out things they may have been overlooked by you. again an attorney isnt paid out of pocket but at the closing. and lastly as they say -do your due diligence - most of it your attorney will research but it never hurts to contact the city and question water and tax charges, easements, verify the property lines and such. talk to neighbors if possible to-sometimes a nit picky neighor will let out all the secrets. good luck |
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Gerald
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First go to the mortage company and get financing. They will be able to tell you how much you can spend on a home.
Second look for a home in the financing range.
Third sign a sales aggrement.
Fourth sign papers at closing and get the keys.
I left out realator because you do NOT need them to purchase a house. Homes for sale by owner is a good place to start. Realator fees are 7% of the cost of the home. That 7% adds to the price of the home... For sale by owner is good to do.
Be very patient while shopping. It may get frustrating -- but remember this is the largest single investment you will make. |
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Cindy M
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If you have good credit, skip the mortgage broker and go apply to a real bank. Since you are a first time homebuyer, you may be eligible for special programs. There are several in Ohio. Realtors can be your best friend or worst nightmare. Some of them will just show you any piece of crap on the market to get a sale, and not look out for your best interest. I realize that realtors and mortgage brokers need to make a living too, but some of them need their licenses revoked. On the flip side, realtors are very knowledgeable. If you are looking at a property, its in your best interest to have your own realtor as opposed to a dual realtor, for that reason. Take advantage of what the realtor has to say, and shop around for one that's not going to feed you a bunch of bull, you should feel comfortable with this person, and they should be willing to hand hold you since you are a first time homebuyer. If they don't want to or you get the impression that they are put out and can't be bothered or they act like your questions are stupid, move on.
When looking at real estate, make sure that you get something that is structurally sound. It has to have good bones. Make sure the foundation is solid - no cracks, because that could mean water damage, pests and rodents, and that the structural integrity is compromised. Also, you do not want a house that has more than 2 layers of roofing material on it, make sure that when you look at the roof, there are no bulges, it isn't warped, of missing shingles. Also look for water damage in the attic and on porch ceilings. Make sure the plumbing and electrical systems are up to code and intact. Cuyahoga County and the City of Cleveland both offer programs for buying in target areas with certain income and price restrictions and home improvement and downpayment programs and Ohio offers grant programs for legible people. Check out your city, county and state home pages for programs. There's so much offered for people, but they just don't know about it. Otherwise, if you have to go to a broker because a regular bank won't finance you, check with the state broker licensing board in your area to find a reputable one, and go to a title agent that does not have an affiliated business arrangement with the broker or realtor. You need to know that your interest and rights are fully protected, without the niggling sensation that because the title company is owned by, whether partially or fully or affiliated with the realtor or broker that their pay check is more important than what truly matters (ie your rights are protected). If you have questions you can email me and I'll try to answer them, just keep in mind that I'm in Ohio and what may be usual and customary here may not apply to your area.
westparktitle@sbcglobal.net |
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Kandy M
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For all the Real Estate Agent Bashers out there! Most people purchase 1 at most 2 homes in their lifetime. An agent goes through this process twice or better in a month. Qualified Real Estate Agents are worth their weight in gold. You pay a doctor high fees because that is his trade. He/She has gone to school and keeps upto date on all health issues. You would not want a "do- it- yourself kit" for your health issues.
You certainly would want someone knowledgable to all aspects of the Home Buying Process! Someone that can refer you to knowledgable Loan officers, Home Inspectors, Real Estate Attorneys, surveyors, contactors, builders, settlement agents, appraisors, and home insurance agents. Agents work with these service providers every day. And it is the job of the agent to keep all these services/servicers moving toward your goal in the purchase.
As a "Buyer" most agents services are paid by the seller. You can interview as many agents as you would like before hiring one. I would suggest you start there. Make sure you are comfortable and trusting of whom ever you work with. They know their local markets, they may have even already sold a particular home you are interested it!
Just remember, all documents that you sign are legally binding contracts, and many unforseen things can happen in a transaction. So protect yourself by using a professional!
And a good Agent won't mind giving you a step by step tutorial of how to buy your first home!
****Happy Home Buying**** |
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suzanne e
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I just bought a house by myself for the first time recently.
Make sure to do your homework on the values of neighboring homes, how much the yearly taxes are, and if there are any association fees (if you are buying in a subdivision).
You will need a good mortgage broker, who will assist you with all mortgage applications, and will find you the best rate possible. Never ever accept an adjustable interest rate. Make sure your loan has a fixed rate. The adjustable will go up to its cap I guarantee it. Thats why all the foreclosures are happening now.
DiTech seems to be a good Mortgage company to start with. You will need to provide the last 2 years income tax returns, and paycheck stubs for whatever time frame they require. Most mortgage companies require that you be at a job at least 2 years (or in the same field for that amount of time). They will want a list of all assets too.
The seller will be required to have an inspection done on the property. You have the right to choose the inspection company or person. This is a good idea to have an outside party do the inspection.
You need to get homeowners insurance. You can go through your car insurance broker and this usually saves you money on both because you will have multi policy. The homeowners insurance is usually coverage on just what you owe on the mortgage. This premium is added to your home loan as well as the taxes, and then divided into your monthly mortgage payment.
You will need your down payment wired to the Title company before your closing date. If you put 20% or more down on the house the whole process is alot easier. Go for a 30 year and double up payments when you can. To go with a 15 year mortgage brings your payment up higher and can add stress. To go with the longer loan is better, because you can pay more when you have the money.
Check out what the utility bills are like for the house. The owner should provide you with an average amount spent monthly on gas, electric, etc.
Most important dont get discouraged. It will seem overwhelming with all the information you will need to provide. If you can, have a lawyer look over the final contract before you sign. If someone in your family is handy, have them come out and do a once over on the property.
So in a nut shell to buy a house:
1. Do homework on area value for chosen property.
2. Bid a price you think is fair from the information you find.
3. Find a reliable and honest mortgage broker.
4. Gather financial information from the last 2 years, to provide mortgage company.
5. Dont go over your head on payments.
6. Call your car insurance broker and find out about their homeowners insurance.
7. Secure your downpayment and prepare for some extra fees that may arise.
8. Enjoy your home: The benefits are amazing. At tax time your refund will be greatly increased, and you can borrow against your equity (downpayment + any increase of value of your property.
Real estate is a great investment. |
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Angie
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That's a huge subject. I would suggest a trip to your local library to check out a couple of books on the subject of real estate. Best part - its free!! |
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Bill P
 |
www.OwnPartofTexas.com
Jusat click on the information links and you can get a majority of your questions answered. |
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Alterfemego
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Ok, your first step is to select several loan companies in your area and talk to them about the different loan programs they offer. Sounds like you're a first time buyer, so ask for "first time buyers money". Select the lender that has a program you're comfortable with and have them preapprove you for a mortgage. You will know how much you can spend on a home.
Next: Make a list with 2 columns. #1 column write down everything you MUST have in your home, and th #2 column the things you would LIKE to have.
Next: Visit open houses in the area you want to live in and talk with each agent about the area and homes. When you find one you are comfortable with, ask them to help you find a home. Now - give them the list you made. And you are 1/2 way there !
Thanks for being in the market!
Hugs from Minnesota Realtor! |
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Genki
 |
You should get a couple of books about home buying. They will contain much more information and be much more complete than any answer you'll receive here. Plus, you can refer to them in the future.
Next, get a buyer's agent. You will learn so much in such a short time and they can guide you to make smart decisions based on your personal goals and your local market. Interview at least three so that you can see the differences between agents, such as experience, knowledge, and personality.
Good luck! |
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Jason J
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BIG subject that requires lots of learning. Start by researching on-line, look at How To articles & houses for sale in your area of interest. Most important - look at lots of open houses to see how much a $ will buy. Use an on-line payment calculator and estimate how much you can afford to pay. Include taxes, insurance and maintenance in those payments. You will need financing so try and get owner financing otherwise you will need a lender. If you shop lenders for the best interest rate/loan each one will want to check your credit report. Each credit check will produce an inquiry on your credit report and after several (FICO will not say how many) can lower your FICO score. The lenders have guidelines that TELL YOU how much you can afford which can vary greatly from what you can actually afford. If you can't take the time to learn all this then find a real estate agent and let them sell you a house for a BIG fee.
Here is a good place to start. http://www.hud.gov/buying/index.cfm
Mortgage calculator.
http://www.bankrate.com/brm/mortgage-calculator.asp |
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